An image of new Twitter owner Elon Musk is seen surrounded by Twitter logos in this photo illustration in Warsaw, Poland on 08 November, 2022. STR | Nurphoto | Getty Images Elon Musk led a $44 billion acquisition of Twitter and appointed himself CEO there in late October. Ever since, he has enlisted high-ranking executives… Continue reading SpaceX, Tesla, and Boring Company execs are helping Elon Musk at Twitter, records reveal
Author: CNBC Online news
Used vehicle demand and prices continue to decline from record highs
A pedestrian walks past a certified pre-owned car sales lot in Alhambra, California on January 12, 2022. Frederic J. Brown | AFP | Getty Images DETROIT – Wholesale prices of used vehicles reached their lowest level in more than a year last month, as retail sales decline amid interest rate hikes, rising new vehicle availability… Continue reading Used vehicle demand and prices continue to decline from record highs
Carvana shares tank as bankruptcy concerns grow for used car retailer
watch now Shares of Carvana plummeted by more than 40% during trading Wednesday after the embattled online used car retailer’s largest creditors signed a deal binding them to act together in negotiations with the company. The pact, as first reported by Bloomberg, includes creditors such as Apollo Global Management and Pacific Investment Management that hold… Continue reading Carvana shares tank as bankruptcy concerns grow for used car retailer
Vietnamese EV maker VinFast files to go public in the U.S.
The VF-8 electric vehicle from VinFast, a Vietnamese automaker producing electric cars and SUV’s, is on display at their showroom in Santa Monica, California, on July 18, 2022. Frederic J. Brown | AFP | Getty Images Vietnamese EV maker VinFast is going public in the U.S. VinFast on Tuesday said it has filed a registration… Continue reading Vietnamese EV maker VinFast files to go public in the U.S.
GM battery plant workers to vote on union representation in labor test for the EV industry
Striking United Auto Workers members and supporters attend a speech by Vermont Sen. Bernie Sanders outside General Motors’ Detroit-Hamtramck Assembly plant on Sept. 25, 2019 in Detroit. Michael Wayland / CNBC DETROIT — The United Auto Workers union will for the first time this week attempt to organize a major electric vehicle battery plant for… Continue reading GM battery plant workers to vote on union representation in labor test for the EV industry
Self-driving truck startup Kodiak Robotics wins $50 million deal to help develop driverless Army vehicles
Kodiak Robotics truck in front of an IKEA store. Source: Kodiak Robotics Self-driving truck startup Kodiak Robotics said Tuesday that it won a two-year, $49.9 million contract from the U.S. Department of Defense to help develop automated combat vehicles for the U.S. Army. The company said the vehicles will be tailored for reconnaissance, surveillance and… Continue reading Self-driving truck startup Kodiak Robotics wins $50 million deal to help develop driverless Army vehicles
GM continues to evaluate Twitter advertising suspension following Musk takeover
watch now General Motors continues to monitor Twitter and evaluate its decision to suspend advertising on the social media platform following Elon Musk’s takeover of the company, CEO Mary Barra told CNBC Tuesday. Barra said that the automaker’s decision to suspend advertising in October was in part an effort to protect its brands but was… Continue reading GM continues to evaluate Twitter advertising suspension following Musk takeover
Ford CEO says 65% of U.S. dealers agree to sell EVs under company’s investment programs
Ford F-150 Lightning trucks manufactured at the Rouge Electric Vehicle Center in Dearborn Michigan. Courtesy: Ford Motor Co. DETROIT – About 65% of Ford Motor’s dealers have agreed to sell electric vehicles as the company invests billions to expand production and sales of the battery-powered cars and trucks, CEO Jim Farley said Monday. About 1,920… Continue reading Ford CEO says 65% of U.S. dealers agree to sell EVs under company’s investment programs
DHL buying Ford E-Transit cargo vans showcases the automaker’s electric vehicle strategy
Delivery giant DHL and Club holding Ford Motor (F) struck an electric van and software deal that bolsters the automaker’s multipronged EV strategy, an approach that’s central to why we own the stock. The news DHL will acquire 2,000 Ford E-Transit cargo vans by the end of 2023, the companies announced Monday. The agreement also includes… Continue reading DHL buying Ford E-Transit cargo vans showcases the automaker’s electric vehicle strategy
These 10 cars have the greatest potential lifespan — and 6 are Toyotas
watch now New cars are getting increasingly expensive. But they’re also more durable than before, which means drivers have a better chance of getting their money’s worth. As the average transaction price for new cars reached an estimated $45,872 in November — the highest on record, according to a joint forecast from J.D. Power and LMC… Continue reading These 10 cars have the greatest potential lifespan — and 6 are Toyotas